StockMarketWire.com - After a stock market rout overnight in the US linked to fears over the pace of interest rate increases, futures markets were pointing to a stronger open later. This helped lift the FTSE 100 off its lows by midday, down 0.47% at 6,741.60.

Concerns over a supply glut put oil prices under pressure with FTSE 100 index heavyweights Royal Dutch Shell and BP falling 1.9% and 1.5% respectively.

Separately Shell was linked with an $8bn bid for US private oil firm Endeavor Energy.

LARGE AND MID CAP RISERS AND FALLERS

Power utility National Grid fell 6.2% to 783.9p after announcing that it was disappointed with consultation documents published by the UK regulator, claiming it made it harder to provide fair returns to shareholders.

Oil services company Petrofac climbed 2.6% to 457.3p after it said it was trading in line with expectations, having won $5bn worth of orders in the year to date.

Fellow service company Wood Group, however, fell 1.6% to 525.8p, despite announcing that it had won a $66m contract to supply technologies to the UK's Sellafield nuclear site.

SMALL CAP RISERS AND FALLERS

Fishing tackle and equipment retailer Angling Direct rose 1.8% to 83.5p on announcing that it remained confident of meeting full year expectations as international sales nearly doubled.

Digital imaging and sensing company Scientific Digital Imaging gained 4.9% to 36.2p as it booked a 42% rise in first-half profit, buoyed by organic revenue growth and new contributions from acquisitions.

Inspiration Healthcare added 2.8% to 69.4p on the back of news that it had signed an exclusive agreement with 'a major US university' for rights to develop a new respiratory device.

Agriculture and engineering group Carr's gained 1.4% to 146p as it announced that chairman Chris Holmes would stand down in January 2020.


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